The Property Tax On Money System

Type Your Article Here ...What is money about? Money is the recording device for keeping track of the energy expended in producing goods and services. Included are the labor expended, investment capital, and all else involved in making goods or providing services.

This is a short form of my tax plan I call A PROPERTY TAX ON MONEY.

After realizing the first step needed to get government off our backs was to get rid of the IRS, and the Federal Reserve System, I went into the GAO and got a rough figure of 500 billion 1998 dollars as the cost of the IRS program. This includes accounting costs to the tax payer and the cost to government, including IRS employees, office buildings, enforcement cops and their equipment, jails for tax felons, accountants and tax lawyers and the cost in uncollected taxes, etc., etc. So, the elimination of the IRS puts that amount in my plus column, meaning the consumer will have it to spend buying items that are manufactured and useful services rather than on many useless collection and accounting services.

In shutting down the IRS, the jobs displaced by this plan are not a problem as the jobs market for “producers” will expand. My plan eliminates nearly every bit of paperwork used in tax collection other than that created by the congressional budget bill and the continued issuance and use of paper money. All else is dealt with electronically.

It goes like this: First we need a limit to spending law with no way out in the Constitution. Every year congress will pass a spending bill that covers all the government’s expenses including a per capita amount allocated for every born or naturalized citizen regardless of age that goes to the states. A separate plan for financing with respect to the costs incurred dealing with natural disasters will be a separate bill. Each day the government electronically pays its bill including the per capita amount allocated to each state. No revenue is collected so it’s basically (electronically) printing money each day. This devalues all American dollars worldwide, including drug money, money hidden in off shore accounts, money held by religions, corporations, other governments, money lenders and money held by every individual. That amount goes in the negative column but because it radically expands the tax base, it also is a plus item, the exact difference is difficult to estimate. This devaluation is lower than average inflation so it really won’t affect the dollar value to a greater extent. The actual percentage of the devaluation is arrived at by calculating the amount of dollars in the world in cash, equity of all types held in American dollars and all business done world-wide in American money and dividing the amount spent by government into it. Our economy is currently pumping about fifteen trillion a year into the world economy so that gives us an idea of how little the percentage of the total devaluation will be for each year. If there is 500 trillion dollars as a tax base that would result in about a 1% per year tax manifest as devaluation.

This plan will end all government borrowing. To begin with, each year a percentage of the national debt will be paid off, reducing the interest paid. In time, the slate will be clean and the billions spent on interest goes in the plus column with the billions saved from ending the IRS and the amount usually held by entities that don’t pay any tax. Ridding ourselves of the FED and having government issuing money will save the percentage paid for FED funds, another plus column item.

The money allocated to the states on a per capita basis is used to run the state. Any state or community that wants more public service can enact special taxes for them. Example: If Beverly Hills wants more cops than the government dole allows they can have them by local referendum.

Because payment is made daily, the world is not in the dark about where the dollar stands and that’s a good thing. I calculate we need to “print” about 5 trillion a year in 2008 dollars to support federal and state governments.

Conservatives, Liberals and practically all living persons rant about lower taxes so we can decide how to spend our own money and I agree. I doubt many so-called Conservative or Liberal elected public servants will agree this is how to do it because of the loss of power by the Central Government. I see this plan as a move towards a monetary Libertarianism.

Since there will be considerably more money for people to spend on goods and useful services, regardless of the devaluation, the economy will flourish and all business will do better. Religions and drug lords and tax evaders can’t get away without paying their share. A simple example is such: If you have a dollar in your pocket, from Jan. 1 until the end of Dec. it will lose a penny or two in value without any paper work or any control of the economy by government. Wholesale and retail prices will adjust as they do now for inflation. There will be no tax incentives, no subsidies, no gerrymandering of the economy by government and our lives will be private as they should be. And, we can have a true free market economy and not the fake one we have now. All the government needs to know about the collective economy can be gotten from census reports.

When we compare what goes into the plus column against the amount in the minus column, even allowing for some plus or minus deviation in either direction, this plan really works to the citizen’s benefit.

Many factions that get away without paying their share will oppose this plan and it may never come to pass unless there is a radical change of the collective mind. The government will not like losing control of the economy but since it is the greatest impediment to a real free market and personal freedom, f--k the government.